Posted on February 10, 2014 by Corey Hart
Feb

10

2014

Winter weather dampens buyer activity; Inventory gains across all property segments

OVERVIEW

The Baltimore Metro Area was off to an unusually cold and snowy start, likely affecting buyer activity in the region.  Closed sales decreased 2.0 percent from last January driven by declines in single-family detached home and townhome sales.  New contracts increased modestly from last year, rising 1.6 percent.  Seller activity continues to improve and both active listings and new listings increased from January 2013.  Active listings rose 6.0 percent from this time last year, led by active listings for single-family detached homes.  Inventory has now risen from the prior year for four consecutive months.  Even with this increase, supply remains tight and is only 49.3 percent of its 2008 peak level.  New listings increased 3.7 percent from last year which is a milder increase than in prior months.  The median sales price in the region increased 0.4 percent from last January, led by growth in condo properties and townhomes.  While sellers are returning to the market, weather may dampen buyer activity in the remaining winter months.

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Posted on January 10, 2014 by Corey Hart
Jan

10

2014

Buyer activity in December recovers from November slump; Cumulative 2013 sales up 9.3 from 2012 total

OVERVIEW

As 2013 comes to a close, the housing market in the Washington DC Metro Region has improved relative to last year.  For the 2013 calendar year, the total number of sales in the region increased 9.3 percent from the 2012 level and the median sale price increased by 9.6 percent.  All jurisdictions in the region had a higher median sales price in 2013 than in 2012.  In December, the region recovered from the slowdown that occurred in November due largely to the shutdown of the Federal Government.  Closed sales increased 9.7 percent from last December and 18.8 percent from last month.  The increase in closed sales from November does not follow typical seasonal patterns as the ten-year average month-over-month change is 5.7 percent.  The increases in closed sales as compared to both last year and last month indicate that the low level of sales in November was anomalous and not part of a larger trend. 

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Posted on January 09, 2014 by Corey Hart
Jan

09

2014

Cumulative 2013 sales up 14 percent over the 2012 total

OVERVIEW

As 2013 comes to a close, the housing market in the Baltimore Metro Region continues to improve.  For the 2013 calendar year, the total number of sales in the region increased 13.8 percent from those in 2012 and the median sales price increased by 4.3 percent.  All jurisdictions in the region had a higher median sales price in 2013 than in 2012.  In December, the region recovered from the slowdown that occurred in November due largely to the shutdown of the Federal Government.  Closed sales increased 11.3 percent from last December and 6.4 percent from last month.  This increase in closed sales from November does not follow typical seasonal patterns as this change is generally flat.  The increases in closed sales as compared to both last year and last month indicate that the low level of sales in November was anomalous and not part of a larger trend. 

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Posted on December 10, 2013 by Corey Hart
Dec

10

2013

October's shutdown resulted in a sluggish November

OVERVIEW

Closed sales in the Washington DC Metro Region housing market stalled in November, likely due to the uncertainty caused by the shutdown of the federal government in October.  Closed sales decreased 13.7 percent from this time last year.  This is the first decline since March of last year and the largest decline in over two years.  Sales decreased 21.2 percent from last month, which is nearly five times the 10-year average October to November change.  Even with the decline in closed sales, the median sales price increased 8.1 percent from last year and median prices increased in every jurisdiction except Arlington County.  New pending contracts increased 3.3 percent from last November, but new pending contracts decreased both in Fairfax County (-1.5 percent) and Prince George’s County (-5.8 percent). 

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Posted on December 10, 2013 by Corey Hart
Dec

10

2013

Increase in active listings for all property segments

OVERVIEW

Buyer activity in the Baltimore Metro Region housing market was flat in November.  The typical winter slow-down in the region’s housing market was intensified somewhat by the shutdown of the federal government.  Closed sales increased 0.8 percent from this time last year, which is the slowest growth rate this year.  Sales decreased 10.2 percent from last month, which is nearly three times the 10-year average October to November change. 

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